APPLICATION INSTRUCTIONS FOR NEW PARTICIPANTS

Transcription

1 APPLICATION INSTRUCTIONS FOR NEW PARTICIPANTS Thank you for your interest in the Georgetown University Law Center Loan Repayment Assistance Program (LRAP). Please take a moment to review the information available on our web site NOTE: NEW REPAYMENT OPTION MUST APPLY FOR PAYE IF YOU ARE ELIGIBLE Pay As You Earn (PAYE) is another repayment plan that serves as an enhanced alternative to IBR for certain eligible borrowers. This plan is required, if you are eligible, in determining your monthly loan payments and LRAP award. Under Pay as You Earn, the amount of discretionary income used to determine whether a borrower has a partial financial hardship and, if so, the monthly required payment obligation decreases from 15% under IBR to 10%. In addition, the maximum length of time a borrower is required to make monthly payments decreases from 25 years under IBR to 20 years. Otherwise, the two repayment plans function similarly. A borrower is eligible for Pay As You Earn if, in addition to meeting all the requirements for IBR, she 1) did not borrow any federal student loans prior to October 1, 2007 or had entirely paid off all such loans as of that date and 2) had at least one federal Stafford or Graduate PLUS loan disburse on or after October 1, 2011 or applied for and completed a Federal Direct Consolidation loan on or after such date. A borrower who does not meet the first requirement may regain eligibility for future, otherwise-eligible federal student loans when and if she completely pays off all outstanding federal student loans regardless of when they were borrowed. To determine your monthly loan repayment, please visit the following websites: Pay As You Earn (PAYE) Income Based Repayment (IBR) Current Application Deadline: May 1, 2013 In order to ensure that you receive your LRAP disbursement for the July through December 2013 disbursement period, the office MUST receive the following documents by close of business (EST) May 1, 2013: (Any applications received after the deadline will not be accepted, and any incomplete applications will not be processed for this cycle.) 1. Online LRAP Application for New Applicants All information reported on the online application must be identical to the information on your application documentation. 2a. LRAP Application Documents Application Certification: This certification form confirms your understanding of the program (this form is available below) Loan Documentation: You and your spouse (if applicable) must submit all student loan documentation from your lenders (including undergraduate and graduate, if applicable). You are required to consolidate all your federal loans with Direct Lending (if any of them were borrowed prior to July 1, 2010) and submit a copy of your Direct Consolidation Loan Summary Sheet, along with a copy of the Direct Loan Disclosure of Repayment schedule that shows your PAYE or IBR payment* and first payment due date. Your loans must be in PAYE/IBR at the time you apply to the program. If you only borrowed Direct Federal Loans after July 1, 2010 then they are with Direct Lending already so you will not need to go through the consolidation process; just apply for PAYE/IBR. All loan documentation must show that you are or will be in a repayment status, and show that you are in current and good standing. All loan documentation must match loan amounts reported on the online application. *Please Note: If you are married and filed your most recent federal tax return jointly, we will recalculate your PAYE/IBR using your total family size and your income ONLY. Examples of the Direct Consolidation Loan Summary Sheet and Loan Disclosure of Repayment Schedule are provided below.

2 Employer Certification Form for Applicant: This form verifies your employment status and must be completed by your employer (this form is available below). Please note: a separate employer certification is required for each employer. Job Description: This description must be submitted on company letterhead by your employer supporting that your position is considered LRAP qualifying employment and a JD degree is required or preferred for your job title. Please note that very general job descriptions that aren t explicitly legal in nature will not be accepted or approved for the program. 2b. LRAP Application Documents (required ONLY of applicants with a spouse) Employer Certification Form for Applicant s Spouse: This form verifies your spouse s employment status and must be completed by spouse s employer (this form is available below). A separate employer certification is required for each employer. If your spouse is not employed please include a statement indicating this with your application documents. Please note that although LRAP III participants are only evaluated based upon their own salary, an employer certification form is still required for your spouse. If you cannot retrieve any of the materials listed above from the web site, please contact LRAP/Financial Aid Office immediately at (202) so that we may send the missing document(s) to you as soon as possible.

3 EXAMPLE: DIRECT CONSOLIDATION LOAN SUMMARY SHEET

4 EXAMPLE #1: LOAN DISCLOSURE REPAYMENT SCHEDULE OR

5 EXAMPLE #2: LOAN DISCLOSURE REPAYMENT SCHEDULE Application and Materials Deadline: All materials are to be completed and returned to the Financial Aid Office no later than the close of business (EST) on November 1, and May 1, for mid-year applications (with the exception of spouse forms if you are not married). If the 1st falls on a Saturday, Sunday, or holiday, all materials will be considered timely if they are received by the next business day. When sending your LRAP application, please send all documents at one time and keep a complete copy of the materials for your records. The Financial Aid Office will notification to you within three business days to confirm the receipt of your application. If you do not receive confirmation of the receipt of the application materials, it is your responsibility to follow up with the Office prior to the deadline date to verify whether your application is on file. Applications are accepted via fax (866) , regular mail, (must be attached as a scanned PDF) or personal delivery to the Financial Aid Office. If you fax your application, please do not mail a duplicate copy. PLEASE NOTE: Late and/or incomplete applications at the time of the deadline date will NOT be reviewed for LRAP eligibility due to the increased number of applicants and the financial limitations of the program. Applicants will have to wait until the next application cycle and resubmit an on-time application (online application and required application documents) when it is available. In addition, consideration is granted to JD graduates who apply and are granted funding within two years of graduation. Applications submitted more than two years after graduation must be accompanied by a letter of appeal explaining why

6 the graduate is applying outside the two-year window. Such applications will be sent to the LRAP committee and if approved, will be awarded as funds permit after all on-time applications have been evaluated. A graduate participating in a judicial clerkship or who are Law Fellows enrolled as students with loans not in a repayment status, which prevents the submission of an application within two years of graduation, may be granted a one-time extension until the next application deadline. Renewal Applications: Please note that once you become an active participant of the LRAP program, you will be required to submit a complete renewal application with a copy of your federal tax return and W-2(s) each May, as well as an annual renewal application each November. In order to determine if you are eligible to enter the LRAP program, please read the information below about the program. LRAP EMPLOYMENT QUALIFICATIONS: LRAP provides assistance to JD graduates who are employed or self-employed within the U.S. as well as international, on a full-time, paid basis (must receive a W-2 form from employer), in a law-related capacity (JD degree must be required or preferred), by a non-profit 501(c)3 organization or by a federal, state, local or tribal government agency. Some examples include: Legal Aid, Public Defender Offices, Washington Legal Foundation, the ACLU, District Attorney, County Prosecutor, and other public service employment at the federal, state, local, or tribal level. Note: Judicial clerkships, law fellows attending classes and deferred Associates are NOT considered eligible employment for LRAP. Clerkships and law fellows will be given an additional year to apply and receive funding from LRAP. LRAP AWARDS Eligible participants receive LRAP benefits in the form of a six month loan, at the completion of such time the award is granted 100% forgiveness. Please Note: If in any way, the information you provide does not accurately reflect your employment, repayment, or family status, you will risk dismissal from the LRAP program, and you may be subject to civil and/or criminal prosecution. Contact Information: Georgetown University Law Center Loan Repayment Assistance Program Financial Aid Office 335 McDonough Hall 600 New Jersey Avenue, NW Washington, DC Telephone: Toll-Free Fax: lawlrap@law.georgetown.edu Website:

7 GEORGETOWN UNIVERSITY LAW CENTER LOAN REPAYMENT ASSISTANCE PROGRAM APPLICATION CERTIFICATION New Participants 1. I (we) hereby certify that all of the information contained in this LRAP application is true and complete to the best of my (our) knowledge. I (we) filled out the Online LRAP application on: (Date) 2. I (we) certify that federal loans are in PAYE/IBR and the annual review date to notify Direct Lending of my (our) annual income/family size is on:. (Date) 3. I (we) certify that all LRAP loan funds received will be used for the express purpose of repaying student loans borrowed while in attendance at GULC that are or will be in a repayment status*, and I (we) agree to provide proof of this statement, if requested. *LRAP funds are not to be used to pay down any student loans in a deferment or forbearance status. 4. I (we) agree to provide proof of the information presented on this application, if requested. 5. I (we) agree to notify the LRAP committee in writing within thirty days if I (we) receive a deferment or forbearance on student loans from my (our) lender and/or if my (our) loan payments are reduced after LRAP benefits are calculated. 6. I (we) agree to notify the LRAP committee in writing within thirty days of any change in loan payments, employment, if I receive any other loan repayment assistance, or if I (we) file for bankruptcy. 7. I (we) certify that this online application is complete once it is submitted and I (we) send in this certification form, loan consolidation documentation/payment schedules, Employer Certification Form(s), and job description on letterhead; and I understand that an incomplete application will NOT be acted upon by the LRAP coordinator and could result in the forfeiture of award eligibility. 8. I (we) understand that in order to continue participating in LRAP, I (we) must complete a mid-year certification to the LRAP committee by May 1 st, and provide a copy of my (our) federal tax return(s) and W-2(s), and again annually by November 1 st. I understand that it is my responsibility to contact the Financial Aid Office if I do not receive the mid-year certification materials by the mid-april, or the annual certification materials by mid-october. In addition, I understand that I must notify the LRAP Staff in writing if I do not intend to reapply for any upcoming terms. 9. I, the applicant, certify that I am not receiving any assistance in the repayment of my student loans from any source not reported on this application. 10. I certify that I am not delinquent or in default on any student loan and understand that my eligibility for LRAP depends upon the continuous satisfactory repayment status of my student loans. I certify that I will provide proof of my satisfactory loan repayment history from my educational lender(s), bi-annually with my applications. 11. I certify that I understand that if I owe an outstanding balance on my student account at Georgetown University or my LRAP loan (which must be paid within thirty days of notice) that I am not eligible for LRAP consideration until such debt is paid in full. Applicant's Signature Date Spouse s Signature Date

8 Part A: To be completed by the applicant. GEORGETOWN UNIVERSITY LAW CENTER LOAN REPAYMENT ASSISTANCE PROGRAM EMPLOYER CERTIFICATION FORM If the LRAP applicant has more than one employer, or is self-employed, this form should be duplicated and completed by each employer. Name: SSN: I authorize my employer at to provide the information requested in Part B of this form to Georgetown University Law Center. Signature: Date: Part B: To be completed by the employer. The person named above has applied to the Georgetown University Law Center Loan Repayment Assistance Program (LRAP). The program application requires certification by the employer of the applicant's employment status and salary. Please complete this form and return it to the applicant. The due date for receipt of this form to the Georgetown University Law Center is November 1st, annually (or May 1st, annually for mid-year participation). Please complete this information in a timely manner to ensure that your employee receives full consideration for these benefits. Thank you. Beginning date (or projected beginning date) of employment: Current annual salary: If known, projected annual salary beginning July 1, 2013: $ Gross $ Gross During what month of the year are salary/cost-of-living increases usually given? What is the employee's job title? Benefits received in addition to salary (i.e. housing, food, bonuses, etc.): Does the employer provide loan repayment assistance to the applicant? ( ) No ( ) Yes -- amount per year? $ If yes, what date(s) will the funds be disbursed to the applicant? Does your organization have IRS 501(c)(3) status? ( ) Yes - number: ( ) No, this is a government agency (federal, state, local, tribal) ( ) Other please specify I hereby certify that all of the information presented on this form is true and complete to the best of my knowledge. Authorized Signature Printed Name and Title Date Name of Employer Address (street, city, state, zip) Phone Number of Employer

9 GEORGETOWN UNIVERSITY LAW CENTER LOAN REPAYMENT ASSISTANCE PROGRAM EMPLOYER CERTIFICATION FOR APPLICANT'S SPOUSE Part A: To be completed by the applicant's spouse. If the LRAP applicant's spouse has more than one employer, or is self-employed this form should be duplicated and completed by each employer. LRAP Applicant Name: LRAP Applicant Spouse s Name: I authorize my employer at to provide the information requested in Part B of this form to Georgetown University Law Center. Signature: Date: Part B: To be completed by the employer. The spouse of the employee named above has applied to the Georgetown University Law Center Loan Repayment Assistance Program (LRAP). The application requires certification from the employer of the applicant s spouse for employment status and salary. Please complete this form and return it to the employee named above. The due date for receipt of this form to the Georgetown University Law Center is November 1st, annually (or May 1st, annually for midyear participation). Please complete on a timely basis to ensure that your employee s spouse receives full consideration for this program. Thank you. Beginning date (or projected beginning date) of employment: Current annual salary: If known, projected annual salary beginning July 1, 2013: $ Gross $ Gross During what month of the year are salary/cost-of-living increases usually given? What is the employee's job title? Benefits received in addition to salary (i.e. housing, food, bonuses, etc.): Does the employer provide loan repayment assistance to the employee? ( ) No ( ) Yes -- amount per year? I hereby certify that all of the information presented on this form is true and complete to the best of my knowledge. Authorized Signature Printed Name and Title Date Name of Employer Address (street, city, state, zip) Phone Number of Employer